Mission
To become the leading supplier of woodfibre to the Asian markets by offering consistently high quality woodfibre from sustainably managed forests.
By achieving our mission we will generate superior returns to our shareholders by maximising dividends while growing the enterprise value of our business.
Values
Our values represent what we stand for and determine our behaviour when dealing with our customers, stakeholders and each other.
Process Overview
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Partnerships
Partner with local landowners and communities to grow sustainable woodfibre.
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Planning & Establishment
Site selection using known and disciplined parameters to plant and grow the highest quality woodfibre.
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Plantations
Pulpwood is grown and managed on freehold, leasehold and private land.
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Harvest
Contractors harvest pulpwood sourced from Company managed plantations or third party suppliers using mechanical harvesters.
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Haul
Haulage contractors transport product from plantations to the mill.
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Processing
Mills located at Geelong, Myamyn, Brisbane, Bell Bay as well as infield processing on Melville Island convert pulplogs to woodfibre.
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Stockpile
Chip stockpiles located at mills and ports.
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Marketing & Export
Ships carry woodfibre for export from Geelong Port, Port of Portland, Port of Brisbane, Port Melville and Bell Bay.
History
2022
Midway Limited signs an agreement to sell its existing 17,000 hectare plantation estate in south-west Victoria with MEAG, a wholly owned subsidiary of Munich Re
- MEAG has established a special purpose vehicle (SPV) for a client.
- The SPV will acquire the existing 17,000 hectare plantation estate from Midway for A$154.1 million.
- The SPV has also committed to invest an additional A$200 million for land purchases for the development of new hardwood plantations in southwest Victoria.
2018
Midway acquires a 25% stake in ADDCO Fibre Group NZ.
• Midway acquires 100% of Softwood Logging Services (rebranded Midway Logistics).
• Midway acquires a 40% stake in Bio Growth Partners.
• Midway restructures the Tiwi Island Forestry Project.
2017
Midway acquires Plantation Management Partners.
2016
The company listed on ASX December 2016, with a market capitalisation on listing of $187 million.
2015
Volume sold to China has grown significantly – dealing with four major customers in China. Pricing for China and Japan almost at parity as all sales now in USD.
2014
Midway increased interest in QCE to 90% by purchasing shares from Itochu – remaining 10% owned by GrainCorp.
2013
Began supplying woodfibre to West Coast Paper Mills in India. Expansion of sales to Chinese customers including Huatai, Chenming, Sun Paper, APRIL and Bohui.
2012
Commenced supplying woodfibre to Chinese dissolving pulp producer Anhui Huatai for use in the textile industry to produce rayon.
2011
Recommenced supplying woodfibre to China (Sun Paper).
2010
$25 million equity raising from existing shareholders, Acorn and management.
2009
SWF $32 million chip mill completed with annual processing capacity of 1.2 million GMT.
2008
Signed 25 year agreement with GeelongPort and Ports Pty Ltd for a new $28 million ship loader and berth.
2007
Established woodfibre producer and marketer, South West Fibre (SWF) with Mitsui.
2006
Midway acquired major shareholding Queensland Commodity Exports (QCE), exporting softwood chip to Itochu Oji from the Port of Brisbane.
2003
A strategic alliance with Macquarie Bank to establish The Macquarie Forestry Investment Scheme commenced in 2003.
2002
Fibre Exports aquired, Midway Tasmania formed and supply contract with SSYMB Rizhao (China) signed.
1999
The Victree pine plantations estate of approximately 4,000 ha was acquired in 1999 which complemented the existing freehold plantation assets.
1996
30 years plantation venture with Mitsui and Nippon Paper. Softwood woodfibre exports commenced.
1995
In 1995, the Company acquired a Smorgon pine plantations comprising approximately 6,000 ha of softwood plantation on freehold land with the strategy of conversion to short rotation hardwood as the softwood crop was clear felled. Softwood woodfibre exports commenced in 1996.
1986
The first export shipment of hardwood was loaded in Geelong in 1986. Since then the company has diversified and grown significantly.
1985
Hardwood contract with Mitsui signed (primary export partner).
1980
Midway was established in 1980 by a number of Victorian hardwood sawmillers with the objective of establishing a viable export market for hardwood sawmill residues. At that time, the Victorian hardwood sawmilling industry relied on the Victorian Government for supply of sawlogs from state owned forests.Offcuts from the sawmilling process were chipped at the sawmill and brought to Geelong for stockpiling and shipping to a pulp and paper producer in Japan.
